The U.S. Spot Bitcoin ETFs have been reporting massive outflows lately. However, institutional investors are moving forward to embrace these funds. The most recent one is BNP Paribas, which is the second largest bank in Europe. BNP Paribas has invested in BlackRock’s iShares Bitcoin Trust (IBIT). According to the latest 13F filing, filed on Wednesday, May 1, BNP Paribas revealed investing $41,684 in the BlackRock Bitcoin ETF by purchasing 1,030 units. Though the investment is not large, it serves as a stepping stone for the bank in its pursuit of embracing Bitcoin. Moreover, the European bank boasts a massive $600 billion in the assets under management (AUM), making the development even more significant.